With the ending of last month, Rieter acquired the SSM Textile Machinery Division (SSM) from Schweitzer Technologies AG, Horgen.
SSM is world’s leading supplier of precision winding machines in the fields of dyeing, weaving and sewing thread preparation and enjoys success in individual segments of filament yarn production. In fiscal year 2016, SSM generated net sales of CHF 85.9 million with 246 employees and achieved an EBITDA margin of 14.8%.
The purchase price amounts to CHF 124.2 million, consisting of an enterprise value of CHF 100.0 million and liquid funds. Rieter is financing the purchase price from existing funds. The acquisition will have a positive impact on earnings per share. With this acquisition, Rieter is investing in adjacent fields of the textile value chain. The business will be attached to the Business Group Components as an independent unit. Further reports about the current business situations at Rieter will be published publically on 20th of July 2017.
